Latest News | NXTDIGITAL Q4 Profit at Rs 14 Cr

New Delhi, May 13 (PTI) Hinduja Group's Headend-in-the-Sky (HITS) platform NXTDIGITAL on Thursday reported a consolidated net profit of Rs 13.92 crore for the fourth quarter ended March 31, 2021.

The company had posted a net loss of Rs 234.19 crore in January-March period a year ago, NXTDIGITAL said in a regulatory filing.

Revenue from operations was up 23.23 per cent at Rs 265.25 crore during the quarter under review as against Rs 215.24 crore in the year-ago period.

NXTDIGITAL's total expenses were at Rs 290.11 crore in the quarter.

Meanwhile, in a separate filing NXTDIGITAL said its board at a meeting held on Thursday approved raising up to Rs 300 crore through issuance and allotment of equity shares of face value of Rs 10 each.

The board also recommended a dividend of Rs 4 per equity share of face value of Rs 10 each, it added.

HITS is a mode of delivering channels through a satellite multiplex service that enables customers to pick and choose channels.

Under this regime, an operator receives all pay channels at one centralised location in the country and there they are decoded and re-encrypted and then again uplinked to a satellite.

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